11.30.09 | How Much Will My FICO Score Drop?
These days it’s not a matter of “if” your credit score will drop but how far for so many Americans who continue to struggle just to stay above water.
As you would probably expect there are different tier levels based on the infraction. The tier is much different, for example, for an individual who simply misses a payment versus an individual who has a property fall into a foreclosure status.
Below is a list of common mistakes that affect your credit score in an adverse way and the point hit you can expect.
| Credit Mistake | If your score is 680 | If your score is 780 |
| Maxed-Out card | Down 10 to 30pts | Down 25 to 45pts |
| 30-day late payment | Down 60 to 80pts | Down 90 to 110pts |
| Debt Settlement | Down 45 to 65pts | Down 105 to 125pts |
| Foreclosure | Down 85 to 105pts | Down 140 to 160pts |
| Bankruptcy | Down 130 to 150pts | Down 220 to 240pts |
Do you know your credit score? Review your credit score for FREE NOW.
The Student Credit Blog is sponsored in part by:
Filed under: Credit
